LATEST CABLE NEWS GERMAN ITEMS

Hokitika Guardian, 8 November 1923, Page 2

LATEST CABLE NEWS GERMAN ITEMS

AUSTRALIAN AND N.Z. CABLE ASSOCIATION. GERMAN TRICKERY. CAPITALISTS’ HUGE PROFITS. PARIS, Nov. fi ■Senator Gnston-Jnpy. writing in the “Echo do Paris," gives details of the manner in which German capital has escaped to foreign countries. He says that the national fortune, valued at twenty thousand millions sterling, has been transferred abroad. Ihe German manufacturers have organised agencies in Switzerland, Holland, Denmark, and other neutral countries, which are given an exclusive right to sell ilieir products. The orders sent, to the head offices mentioned only fictitious prices, which were accepted, thanks to tho collusion of officials ill the Government export services. Goods wore invoiced to tho foreign agencies at thirty per cent of their real value, so the foreign agents reaped enormous profits. Meanwhile the German headquarters have credited no profits, and thus avoided taxation. Once these reserves got abroad, ihe Germans transformed their agencies into (Swiss, Duteb, and Danish limited companies, which are able to buy shares in the mother companies in Germany for nominal prices, owing to •be fall in the mark. Thus the German capitalists have made eollosal fortunes ••Idle the mass of the people have been milled. M. Japv says the occupation of the Ruhr is the sole means of thwarting this manoeuvre If the Allies leave Germany to complete the fraud, then Germany will have won the war, for her freedom from taxation and the absence of debts will make her the master of the markets of the world. Tt is inconceivable that the British should support this German trickery.

BERLIN LOOTING. LONDON. Nov. 6. One thousand simps were looted and badly damaged yesterday in till outbreak. The stolen goods include fifteen thousand nail's of hoots. The arrests number 121). The city i- now quiet. GERMAN COUP SUSPECTED. LONDON. Nov. 6. The “Daily Chronicle's'' Paris correspondent: says: Attention has now been diverted from the Reparations’ Enquiry to the events in Germany Many here regard lite military preparations in Berlin and Bavaria as camouflage, preliminary to a coup d’etat, aimed at placing jhe whole of Germany under the dictatorship of General I.udendorlT. who will then prepare for revanche.